Local/State Briefs

Updated 9:17 pm, Monday, August 27, 2012

Real estate

S.A.'s Lynd buys 3 Austin properties

The San Antonio-based Lynd company, a national real estate investment, development and management company specializing in the multifamily sector, has purchased three properties in Austin, a total of 912 units. The units were part of a larger sale.

Lynd partnered with Florida-based Florida Value Partners to acquire a portfolio of 11 multifamily properties in a court-appointed receivership sale. The original loan balance was $200 million. The purchase price was not disclosed.

The 11 properties, a total of 3,241 units, are in Texas, Florida, Georgia, South Carolina, Virginia, California and Colorado.

FOX Business Beat: Passengers take bids on seats; Target to raise minimum wageFox5DC

The Austin locations include 408 units at the Village at Riverside, the 344-unit Wildwood and the 160-unit Club Creek.

Biomed

AirStrip expands mobile platform

San Antonio-based AirStrip Technologies Inc. has expanded its mobile patient-monitoring software to measure clinical quality and meaningful use compliance.

The Meaningful Use Tracker, developed by San Diego-based Care Automation, allows AirStrip customers to monitor their performance in real time.

As part of an agreement between AirStrip and Care Automation, AirStrip owns the global licensing, marketing and distribution rights to the Meaningful Use Tracker.

Airport

Advisory group seeks applicants

San Antonio's Airport Advisory Commission is seeking applications for stakeholders in the community category. Officials are encouraging people such as representatives from neighborhood associations in areas near the city's airports.

Atlanta-based Chick-fil-A Inc. will open its 23rd restaurant in San Antonio on the far West Side this week.

On Thursday, the fast-food chain will welcome customers at 10634 Potranco Road Drive directly east of Loop 1604. The Potranco Road location will join 95 others that the chain plans to open across the U.S. this year, creating close to 7,000 new jobs, a news release says. According to the company, the new San Antonio restaurant will create 65 jobs.

Acquisition

Houston's TPC going private

A major producer of a key chemical in synthetic rubber, whose shortage has sent tire prices rising, has agreed to hand over ownership to private equity firms in a deal some say undervalues the Houston company. Chemical company TPC Group would go private under the plan announced Monday. Stockholders would get $40 per share from investment firms First Reserve Corp. and SK Capital Partners, for a total of about $628 million. The company values the sale at $850 million when including the net debt assumed in the deal.

TPC Group stock closed at $39.59 on Friday, prior to the deal's announcement. Shares closed up 60 cents to $40.19 Monday on the Nasdaq stock exchange.